Topic > Unilever Employee Reward System - 2060

Introduction: Unilever is a multinational consumer goods company, which includes products such as food, beverages, detergents, and personal care products. Unilever is the third largest consumer goods company in the world. Unilever brands are trusted all over the world and due to the feedback given by people, Unilever is considered one of the most successful goods/products companies. Unilever has more than 400 brands focused on health and wellness, and this is why Unilever has touched so many people's lives in so many different ways. Unilever's collection of varieties ranges from nutritionally composed foods to forgiving ice creams, economical soaps, comfortable shampoos and daily home care products and items. Unilever also produces leading global brands such as Lipton, Knorr, Dove soap, Axe, Blue Band and many more. Unilever is a responsible company since its sustainable living strategy aims to decouple its development from environmental influence and, at the same time, also increase its social encouraging influence. Their plan has three main goals to achieve by 2020, which are as follows: Support more than one billion people in developing their health. Share the environmental impact of their products. Produce 100% of raw materials farm sustainably and improve the lives of people along their value chain. Unilever has more than 400 brands, 14 of which create sales of more than £1 billion a year. Nearly all of these brands have strong, time-tested collective operations, which include Lifebuoy's push to promote hygiene through handwashing with soap and Dove's crusade for existing beauty. (Unilever, 2014) Unilever Vision: “Unilever's vision is to h...... middle of paper ...... so that the company gets the best outcome from its employees. There should be two-way communication between a manager and an employee as it will minimize a worker's hesitation in the workplace while doing their job. Conclusion This study examines the performance management and reward strategy used in Unilever to retain and motivate its employees for a long term. Employees are given both intrinsic and extrinsic rewards to make them loyal and use their skills to further improve Unilever's performance. Almost all factors of reward strategies and performance management are discussed and evaluated accordingly. Employee performance might be affected if rewards are not given to employees, so to further motivate them, Maslow's hierarchy of needs theory is also recommended to Unilever to retain their employees.